How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

Each of the past crises or periods of instability brought significant challenges but, at the same time, represented an opportunity to learn and change the way things are done, both by me and my team. A strong and complementary team, with expertise across various fields, and a well-designed communication and collaboration channel with other departments, are key ingredients for successfully facing a crisis. When we step into uncharted territory, it is essential to have trust and justified confidence in our professional abilities and in the drive and commitment of each team member.

Change is a constant for in-house legal professionals across all industries. Knowing this, it is critical to anticipate and stay informed about new regulatory provisions, keep an eye on socio-economic developments, and have a good understanding of your industry’s business cycle, as well as your company’s business model and strategy.

Especially in the legal banking industry, as recently established by national regulations, the legal function plays a significant role in the organisational decision-making process. Therefore, both in times of crisis and in business-as-usual periods, the legal and business strategies are not only aligned but also intertwined, creating a unified framework.

It is important to recognise that during periods of instability, filled with uncertainty, the standard operating model and classic contingency plans may not yield the expected results. For this reason, I believe that cultivating resilience, maintaining a flexible mindset, and practising Socratic questioning must become the daily routine of a successful in-house legal team, regardless of the circumstances.

To navigate through a period of instability, quick, effective, and efficient decisions and actions are required, even when you are travelling without a map and do not yet have the solution. In such situations, no potential scenario should be disregarded. We must carefully consider the potential long-term impact of each proposed action. The pre-mortem analysis of a decision – imagining the reasons why a plan might fail before it is implemented – is often the best consultant you can have. This process helps you distance yourself from your own ideas, which may not be the most appropriate at the time and allows you to eliminate personal biases and blind spots.

My advice in one sentence: each crisis is undoubtedly a major challenge, but do not waste it – treat it as an opportunity, a checkpoint for your ability to learn, adapt, and improve.